Thursday, 23 December 2010

How to sell gemstones? GI marketing!

The Brazilian Instituto Nacional da Propriedade Industrial (INPI) has received yet another application of Geographical Indication (GI) for a stone. However, this time is not just a stone but a gemstone named ‘opal’.

The opal of Pedro II, the city located 195 km north of Teresina, Piauí, is a gem undervalued in the country but, according to the news, easily found at stores like Cartier and Tifany, among other famous jewelers. Obtaining a GI is part of a process that began with a Local Productive Arrangement (APL) developed by Sebrae / PI, in partnership with the Center for Mineral Technology of RJ (CETEM), the Government of Piaui, the Municipality of Pedro II, among others.

The reports explains that “with the merger of the Cooperative Association of Prospectors and Lapidary Jewelers and Pedro II and the training and technology for the extraction and production of jewelry, the opal is already responsible for a considerable increase in income generation and promotion of tourism in the region.”

Marketed at $ 120 a carat, the gem represents an enormous wealth for the city of Pedro II. It is believed that the extraction of opal has not reached even 5% of the total that can be found in that region. The multicoloured opal, one of the most valued, is found only in Pedro II, Piaui, and Australia.